The Dow Jones Industrial Average closed at 23,883.09 on Tuesday with a gain of 133.33 points or 0.56%. The S&P 500 closed at 2,868.44 for a gain of 25.70 points or 0.90%. The Nasdaq Composite closed at 8,809.12 for a gain 98.41 points or 1.13%. The VIX Volatility Index was lower at 33.60 for a loss of 2.37 points or -6.59%.
Tuesday’s market movers
U.S. indexes ended higher Tuesday. Investors were optimistic over state reopenings. The White House also said it was discussing a phase out of its coronavirus task force.
On the earnings calendar:
- DuPont (DD, Financial): Revenue of $5.22 billion decreased 3.5% year over year and beat estimates by $80 million. A first-quarter GAAP earnings loss of 83 cents per share missed estimates by $1.10 and non-GAAP EPS of 84 cents beat estimates by 7 cents.
- Disney (DIS, Financial): Revenue of $18.01 billion increased 20.7% year over year and beat estimates by $510 million. Second-quarter GAAP earnings of 26 cents missed estimates by 47 cents and non-GAAP earnings of 60 cents missed estimates by 30 cents. Disney+ subscribers increased from 26.5 million in the first quarter to 33.5 million.
- Lending Club (LC, Financial): Revenue of $120.2 million decreased 31.1% year over year and missed estimates by $54.46 million. A first-quarter GAAP loss of $1.10 per share missed estimates by $1.03 and a non-GAAP loss of 44 cents missed estimates by 38 cents.
Economic reports affecting market trading included the following:
- The balance of trade report for March showed a deficit of $44.4 billion. Exports were $187.8 billion and imports were $232.2 billion.
- The Markit Composite PMI decreased to 27.0 in April from 40.9.
- The Markit Services PMI decreased to 26.7 from 39.8.
- The ISM Non-Manufacturing PMI decreased from 52.5 to 41.8 in April. Separately, the ISM Non-Manufacturing Prices Index increased to 55.1 from 50, the ISM Non-Manufacturing New Orders Index decreased to 32.9 from 52.9, the ISM Non-Manufacturing Employment Index decreased to 30.0 from 47 and the ISM Non-Manufacturing Business Activity Index decreased to 26.0 from 48.
- The Treasury held auctions for 119-day bills at a rate of 0.130% and 42-day bills at a rate of 0.115%. The 10-year Treasury ended with a yield of 0.659%.
In the S&P 500 health care and technology led gains. In the Dow Jones Industrial Average, the following stocks led gains:
- Pfizer (PFE, Financial) 2.58%
- UnitedHealth (UNH, Financial) 2.09%
- Home Depot (HD, Financial) 2.00%
- Nike (NKE, Financial) 1.98%
- Chevron (CVX, Financial) 1.84%
- Merck (MRK, Financial) 1.77%
- Apple (AAPL, Financial) 1.66%
- Visa (V, Financial) 1.65%
- Intel (INTC, Financial) 1.48%
- Goldman Sachs (GS, Financial) 1.45%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,273.51 for a gain of 9.54 points or 0.75%. The S&P 600 closed at 738.71 for a gain 2.69 points or 0.37%. The Dow Jones U.S. Small-Cap Growth Index closed at 8,693.38 for a gain 112.14 points or 1.31%. The Dow Jones U.S. Small-Cap Value Index closed at 6,272.91 for a loss of 50.45 points or -0.80%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,607.11 for a gain 15.61 points or 0.98%; the S&P 100 at 1,318.69 for a gain 10.88 points or 0.83%; the Nasdaq 100 at 8,930.62 for a gain 96.51 points or 1.09%; the Russell 3000 at 1,658.61 for a gain 15.40 points or 0.94%; the Russell 1000 at 1,578.03 for a gain 14.83 points or 0.95%; the Wilshire 5000 at 28,996.14 for a gain 264.36 points or 0.92%; and the Dow Jones U.S. Select Dividend Index at 557.79 for a gain 0.17 points or 0.030%.
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